Advanced Search

Change The Immobilienfonds-Otc Derivatives Counterparty Regulation

Original Language Title: Änderung der Immobilienfonds-OTC-Derivate-Gegenpartei-Verordnung

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.

354. Regulation of the Financial Market Supervisory Authority (FMA), which amelates the real estate fund OTC derivatives counterparty regulation

Due to § 33 (1) Z 2 of the Real Estate Investment Fund Act-ImmoInvFG, BGBl. I n ° 80/2003, as last amended by the Federal Law BGBl. I No 184/2013, shall be arranged:

The Regulation of the Financial Markets Authority (FMA) determining the categories of counterparties in the case of transactions involving OTC derivatives in the case of real estate funds (Property Fund-OTC Derivatives-Counterparty Regulation), BGBl. II No 311/2007, shall be amended as follows:

1. The previous text of the Regulation shall be replaced by the following § 1:

" § 1. Counterparty in the case of transactions with OTC derivatives may be the following institutions subject to supervision:

1.

Austrian credit institutions;

2.

credit institutions authorised in a Member State in accordance with Article 4 (1) (1) of Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, OJ L 136, 31.5.2013, p. No. OJ L 176, 27.06.2013 p. 1;

3.

foreign credit institutions according to § 2 Z 13 of the Banking Act-BWG BGBl. 1 No. 532/1993 with the registered office in a central State which, in accordance with Part 3, Title II, Chapter 2 of Regulation (EU) No 575/2013, has a risk weight of not more than 20 vH would be;

4.

Investment firms according to Article 4 (1) (2) of Regulation (EU) No 575/2013, having their registered office in a central State which would be subject to a risk weight not exceeding 20 VH in accordance with Chapter 2 of Title II of Part 3 of Regulation (EU) No 575/2013. "

2. The following § 2 is added to § 1:

" § 2. § 1 in the version of the BGBl Regulation. II No 354/2013 shall enter into force 1. Jänner 2014 in force. "

Ettl Kumpfmüller